Chicago, IL

Summaries

Thursday, November 8, 2012

Keynote Speaker: Alfred Pollard, General Counsel, FHFA
Session 1: State of the Industry
Session 2: Community Initiatives: Bridging Gaps Between Cities and the Industry
Special Session: The Industry’s Response to Hurricane Sandy
Session 3: Managing Portfolios to Minimize Risk and Maintain Value
Session 4: New Strategies for Effective Vendor Management

Friday, November 9, 2012

Keynote Speaker: Scott Rasmussen, Founder and President of Rasmussen Reports
Session 1: Evolution of Investor Guidelines
Session 2: Staying the Course: Property Preservation in Today’s Environment

PowerPoint Presentations

Thursday, November 8, 2012

The Industry’s Response to Hurricane Sandy
Managing Porfolios to Minimize Risk and Maintain Value
New Strategies for Effective Vendor Management

Friday, November 9, 2012

Evolution of Investor Guidelines
Staying the Course: Property Preservation in Today’s Environment

Video

Thursday, November 8, 2012

Opening Remarks and Keynote Address (Full Video)

• IML Audience Response Device Instructions
• Welcome and Opening Remarks from Robert Klein, Safeguard Properties Founder and Chairman
• Keynote Address: Alfred Pollard, General Counsel, FHFA
  • Knowing Where You are Going
  • The Good News and the Unsettling News
  • Overarching Concerns
    • Still in a Crisis
    • Lack of Responsibility
    • Pressure on Appraisers
    • With Solutions Comes Consequences
  • Lessons Learned
    • The Human Factor
    • There are No Absolutes
  • New Uncertainties
    • Regulation Creation
    • New Regulators
    • Qualified Mortgage
  • Time of Change
  • Mortgage Fraud is Everywhere
  • We All Play a Part
    • The Complexity of Helping Homeowners
    • The Challenge of How to Know Everything
    • Where the GSEs Are Going
    • Freddie Mac and Fannie Mae Moving Forward
      • Building
      • Contracting
      • Maintaining
  • Consumer, Preservation Companies, and States
    • Consumers and Homeowners
      • Robo-Signing Notes Accessibility
      • The Wants of Homeowners
      • Needing Some Direction
    • The Role of Preservation Companies
      • Long Foreclosure Timelines Hurt Communities
      • Collecting on Unpaid Debt
      • Should We Preserve and Repair?
      • Aware of Property Status
      • Increased Pressure to Verify
    • State Laws
• Robert Klein Thanks Alfred Pollard and Introduces State of the Industry SessionSession 1: State of the Industry (Full Video)
  • Looking at Housing from a Political View
  • Introduction of Panelists
  • The Effects of the Election
    • The Housing Market
    • The FHA
      • Filling the Subprime Lending Gap
  • What’s Ahead for FHFA
  • Collaborating to Accomplish End Goal
  • National Foreclosure Timelines
  • Short Sales and Liquidation Options
  • The Industry’s Response to National Disasters
  • The Influence of Strategic Default
  • What’s Happening to the American Dream
  • REO Rentals
  • Have We Overanalyzed the Problem?
  • Profitability for Fannie Mae and Freddie Mac
  • Establishing an Educational Platform for the Industry
  • Property Preservation: Pre-Sale vs. Post-Sale
  • The Homestead Act
  • Multiple Agencies and Oversight

  Session 2: Community Initiatives: Bridging Gaps Between Cities and the Industry (Full Video)

  • Panelists Introductions
    • Alfred Pollard on FHFA
    • Robert Klein on Opening the Lines of Communication
    • Michael Merchant on Managing Chicago’s Vacant Property Inventory
    • Communications and Credibility
    • Wells Fargo’s View
    • Bank of America’s View
  • Charge-Offs and Walk Aways
    • A Global View
    • Dealing with the Tension of Servicing Agreements
    • Post Charge-Off Options
    • Are Servicers Walking Away?
    • The City of Chicago’s Point of View
    • The GSEs’ Point of View
    • The Field Servicers Point of View
  • Communication Strategies
    • Getting Properties Through Foreclosure
    • Donated Properties and Programs
    • Servicers Communicating with Municipalities
  • The Origins of the Communication Issue and the Resolution
    • Vacant Property Registration Ordinances
      • Painting a Target on a Property
      • Origins of Vacant Property Registration
      • Accelerated Foreclosure Process
    • A Community-Based Approach to Handling Vacant Properties
      • Slavic Village Project in Cleveland, OH
    • Fast-Tracking Foreclosure Process
      • Understanding the Difference Between Pre- and Post-Sale Properties
      • Fast-Tracking Starts at the National Level
      • Education is Key Here
  • The Tax Assessor’s Office Role

  Special Session: The Industry’s Response to Hurricane Sandy (Full Video)

  • Introduction to Session
  • Recalling Hurricanes Rita and Katrina
  • Insurance-Related Issues
    • Identifying Wind vs. Flood Damage
    • Understanding Current Legislation
    • Delaying Claim Processing and Adjuster Scopes
    • Contractor and Adjustor Fraud
    • Ramping Up for Inspections
    • The Mortgagee’s Right
    • Borrower or Customer Contact
    • Limited Coverage Issues
    • Recoverable Depreciation
    • Change of Risk Letters
    • Unfinished Renovations
    • Personal Property Coverage
    • Protecting From Future Damage
    • Documentation is Essential
    • Using Cost Estimating Software
  • Critical Time for Partnership
  • Property Inspections After the Storm

  Session 3: Managing Portfolios to Minimize Risk and Maintain Value (Full Video)

  • Audience Response Questions
  • Panelists Introductions
  • Session Overview
  • Cities Learning About Code Violations
  • Ways to Prevent Code Violations
    • Understanding Your Inspection Results
    • Outreach with the Communities and Code Enforcement
    • Expectations for Vendors
  • Managing Code Violations
    • Open Communication with All Parties About Violations
    • Dedicated Staff to Handle Violations
    • Educating When Necessary
    • Tracking Violations
    • Where the Brokers Fit Into the Process
    • Four-Step Process
  • Audience Response Question: Trigger for Property Registration
  • Minimizing the Impact of Property Registraton
    • Communication
    • Law Firms Involvement
    • Being More Proactive
    • Participating with National, State, and Local Organizations
    • Bureaucratic Violations vs. Actual Safety and Health Hazard
  • Managing Property Registraton
    • Dedicated Staff to Handle the Process
    • Utilizing a Database to Stay Organized
    • Biggest Issue: Servicing Acquisitions
  • Managing and Minimizing HOA Issues
    • Finding the HOAs and Learning About Them
    • State Laws that Regulate the HOA
    • Stay in Contact with the Collection Attorneys
    • Keep the HOA on Your Side
    • Issues with HOAs Trying to Foreclose
    • Preservation Challenges with HOAs
  • Managing and Minimizing Utility Costs and Activation
    • Clouds the Title
    • New Investor Guidelines
  • Managing Utility Bills To Minimize Costs and Reduce Title Issues
    • Comprehensive Process to Manage Utility Bills
    • Automatically Turning Off Utilities in Vacant Properties
    • Understanding Impacts to the Communities

  Session 4: New Strategies for Effective Vendor Management (Full Video)

  • Fastest Finger Question
  • Introduction of Panelists
  • Audience Response Question: Formal Documented Oversight in Place for Vendors Today
  • Vendor Management 101
  • Scorecards
    • How Vendors are Rated
    • Quality vs. Quantity
    • Randomness vs. Specifics
    • Balance of Random Sampling and Targeted
    • What is a Good Quality Score?
    • Invoice Amounts
    • Timeliness and Quality
    • Identifying Risks and Putting Controls in Place
    • Vendor Training and Certification
    • Managing Vendors and Brokers Together
    • Performing at an Appropriate Level
    • One Size Does Not Fit All
    • Responsiveness to Issues
    • Playing with Data
    • Vendor Selection Process
      • Evaluations
      • RFP Vendor Process
      • Incorporating Client Scorecards Into the Selection Process
      • Flexibility
      • Taking the Initiative
      • Knowledgeable on Local Laws and Meet License Requirements
  • Bill-Backs vs. Incentives
  • Vendor Contingency Plan
    • Corrective Action Plans
  • Audits: Transparency, Frequency, and Prep
  • Audience Response Question: Changing Procedures
    • What Drives Procedures to Change
    • The Timeframe for Implementing New Procedures
    • Cycle of Change Management
    • Formal Change Control Process is Necessary
    • Scorecards Based On Contracts
  • Industry Collaboration

  Friday, November 9, 2012

  Opening Remarks and Keynote Address (Full Video)

  • Opening Remarks from Greg Robinson, Safeguard Properties CFO
  • Keynote Address: Scott Rasmussen, Rasmussen Reports
  • Challenges in Putting Numbers in Context
  • Housing Industry by the Numbers
    • Public Opinion of Banks, GSEs
  • 2012 Election: What it Means
  • “Unbelievable Period of Change” is Coming
    • Parallels to Early Suffrage Movement
    • Parallels to Civil Rights Movement
    • Public Opinion Moves First
  • Moving Forward in American Politics
  • Time for Leader who can Restore Legitimacy, Trust
  • Policy Issues in the Short Term: Fiscal Cliff, Military Commitments
  • Finance and Housing Industries
  • Responding to Negative Public Opinion
  • Life Cycle of Change
  • Example of Public Opinion Eliciting Change: American Revolution
  • Looking Ahead: Acknowledging Public Perception
    • Getting Worse before it Gets Better
  • Q&A: How to Focus on Being Progressive
  • Q&A: Public Opinion on New Regulatory Legislation
  • Q&A: What the Industry is Doing Right
  • Closing Remarks
  • Hurricane Sandy’s Impact

  Session 1: Evolution of Investor Guidelines (Full Video)

  • Panelist Introductions
  • Panelist Introductions
  • Freddie Mac Top Ten Reminders
    • Mold
    • Tree Trimming and Removal
    • Roof Repairs
    • Shrubs and Vines
    • Vacant Property Registration
    • Addressing Released RPAs
    • Working with Code Enforcement
    • Questions on Cost Estimators, Grass Cut Allowables, Roof Tarping
    • General RPA Best Practices
  • Freddie Mac General Overview
    • Suspension of Foreclosures in Hurricane Sandy-Affected Areas
    • New Policy on Charge-Offs
    • Chicago Ordinance
    • Lender-Placed Insurance
    • Property Preservation and Inspections
  • Freddie Mac Enhancements for 2013
  • National Servicing Center
  • HUD Revised Boarding Directions on Conveyance
  • Update on HUD’s Cost Estimator Contract
    • Overallowable Submission Reduction
  • Department of Veterans Affairs Update
  • Changes to the VA Affecting Servicers
  • Reconveying Properties
  • Question on Routinely-Approved Overallowables

  Session 2: Staying the Course: Property Preservation in Today’s Environment (Full Video)

  • Panelist Introductions
  • Statistics on MCB Processing
  • Servicer Risk and Community Impact
  • Controls to Prevent Abuse of Funds
  • MBA Stats on Industry Spending
  • HUD Top Ten Servicer Questions
    • Calculating Tier Ranking
    • Securing In-Ground Pools
    • Securing Above-Ground Pools
    • Conveying a Damaged Property
    • Filing Hazard Insurance Claims
    • Completing Inspections Outside the 25-35-Day Requirement
      • Hurricane Sandy Considerations
      • Vandalism Not Caused by Mortgagee Neglect
    • Claimable Inspections Past $2,500 Cap
    • Using Bid Cost Estimators
    • Definition of One-Time Major Repair
    • Using Cost Estimators on Items not in Exhibit B
  • Reconveyance Summary
    • Rescinded Cases
  • Properties Conveyed in Error
  • Audience Response Question: Reconvey Process
    • Conveyance Condition Issues
    • Pre-Conveyance Inspections
    • Streamlining the Reconveyance Process
  • Audience Response Question: Timeframe to Reconvey
  • Pre-Sale Securing Challenges
  • Part B Reimbursement
    • Definition of “Reasonable” Delays
    • Claimable Preservation Expenses on Late Conveys
  • Audience Response Question: Repairs and Insurance Proceeds
  • Audience Response Question: Bids for Damages Below Deductible
  • Demand Letters by Category
  • Demand Letters for Overgrown Shrubs
  • Audience Response Question: Broom-Swept Condition
  • Top Ten Part A and Part B Questions
    • Utility Transfer Charge
    • Documentation for Storing Personals
    • Separate Allowables for Knob Locks and Deadbolts
    • Cost Estimator for Initial Grass Cuts
    • HUD Reimbursements for VPR Fees
    • Defining “Borrower Contact”
    • Claiming Debris Removal Fees over $1500
    • Holding Inspections for HUD Mailer Responses
    • Tarping Allowable
    • Exhibit B Debris and Overallowable Requests

  Photos

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